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History

The Development of Double-Entry Bookkeeping in Renaissance Italy

Quick fact

The first printed book on double-entry bookkeeping was written by the mathematician Luca Pacioli, a friend of Leonardo da Vinci, and was part of a larger mathematics textbook published in 1494.

Why this is interesting

Have you ever wondered how a merchant in 1400s Venice could possibly keep track of thousands of transactions without a computer? The answer lies in a clever bookkeeping system that made the numbers always add up—and it's still used by every business today.